USDJPY possible short term move lower
In the longer-term, a bull flag is forming. 
Price is coiling. If we break lower then there is a high probability we will go lower to the lower end of the bull flag before going up again.
False break. A lot of stops will be below the supply zone as traders went long at the break of the previous high. These stops should fuel a possible impulsive leg down once broken.
There is no signal candlestick pattern other than that all recent candles are bearish and have higher wicks.
Date Pair Direction Trade Trend Level Signal Entry
2019-11-14 USDJPY Short Counter Trend Up Supply zone break
Price is coiling. If we break lower then there is a high probability we will go lower to the lower end of the bull flag before going up again.
False break. A lot of stops will be below the supply zone as traders went long at the break of the previous high. These stops should fuel a possible impulsive leg down once broken.
There is no signal candlestick pattern other than that all recent candles are bearish and have higher wicks.
Date Pair Direction Trade Trend Level Signal Entry
2019-11-14 USDJPY Short Counter Trend Up Supply zone break
Note
Moved stop to -0.5RTrade closed manually
Closed at about BE. Trade is not moving. Reevaluate next week.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.